Introduction of IPC Section 490
The Indian Penal Code (IPC) section 490 deals with the offense of possessing counterfeit currency notes or bank notes with the intention to use them as genuine or allow them to be used as genuine. This section aims to prevent the circulation and use of counterfeit currency, thereby protecting the integrity of the financial system.
What is IPC Section 490 ?
IPC 490 states that whoever sells to, or buys or receives from, any other person, or otherwise traffics in or uses as genuine, any forged or counterfeit currency notes or bank notes, knowing or having reason to believe the same to be forged or counterfeit, and intending to use the same as genuine or that it may be used as genuine, shall be punished with imprisonment and fine.
IPC Section 490 Overview
Indian Penal Code (IPC) Section 490 concerns the act of dishonestly concealing or removing a will or other valuable security. It aims to safeguard the integrity of legal documents and protect against fraudulent activities.
Key Points:
- Offense Definition: IPC 490 deals with the intentional act of concealing or removing a will or valuable security with dishonest intent.
- Offense Description: It involves deliberately hiding or taking away legal documents such as wills or valuable securities, intending to deceive or defraud.
- Purpose of the Law: The law aims to uphold the sanctity of legal documents, ensuring that they are not tampered with or unlawfully concealed for fraudulent purposes.
- Punishment: Those found guilty under IPC 490 may face imprisonment for up to two years, a fine, or both, depending on the severity of the offense.
- Bailable Status: Offenses under IPC 490 are generally considered bailable, meaning that the accused may seek bail while awaiting trial.
- Legal Protection: IPC 490 provides legal protection against the unlawful concealment or removal of important legal documents, promoting transparency and honesty in legal affairs.
490 IPC Punishment
- Imprisonment: The convicted individual may face imprisonment for a period of up to ten years.
- Fine: In addition to imprisonment, the offender is also liable to pay a fine.
490 IPC bailable or non bailable ?
IPC Section 490 is a non-bailable offense. This means that if a person is accused of violating this section, they cannot be granted bail as a matter of right. Instead, they would need to apply for bail before a court, and the decision to grant bail would be at the discretion of the court based on various factors such as the nature of the offense, the evidence presented, and the individual’s background.
Section 490 IPC in short information
| Aspect | Description |
|---|---|
| Definition | IPC Section 490 pertains to the offense of “breach of contract of service during voyage or journey.” It deals with situations where a person in charge of a vessel breaches the contract of service during the voyage or journey. |
| Offence | The offense occurs when a person, being in charge of a vessel, breaches the contract of service during the voyage or journey, thereby violating the terms agreed upon. |
| Punishment | The punishment for the offense under IPC Section 490 includes imprisonment for a term which may extend to ten years, along with liability for a fine. |
| Bailable | IPC Section 490 is a non-bailable offense. This means that if a person is accused under this section, they cannot be granted bail as a matter of right and must apply for bail before a court. |
IPC 490 FAQs
What actions are covered under IPC 490?
IPC 490 covers selling, buying, receiving, trafficking, or otherwise using counterfeit currency notes or bank notes as genuine with the intention to use them as genuine or allow them to be used as genuine.
What is the maximum punishment for the offense under IPC 490?
The maximum punishment is imprisonment up to ten years, along with a fine.
Is IPC 490 a bailable offense?
No, IPC 490 is a non-bailable offense.
Why is IPC 490 important?
IPC 490 is crucial to prevent the circulation and use of counterfeit currency, which can have severe economic consequences and undermine the financial system, thereby protecting the integrity of the financial system.
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